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10 Million New Tax Payers Brought Under System by Demonetization, Survey Reveals

January 31, 2018

10 Million New Tax Payers Brought Under System by Demonetization, Survey Reveals

The Indian Economic Survey 2018 that was presented in the Parliament this Monday sheds light on the various ways demonetization has impacted the economy.
The report was tabled by Chief Economic Advisor Arvind Subramanian, who said that after November 2016, the time when the note-ban was announced, about 10.1 million new tax payers were added to the database. In the previous 6 years, the average number of taxpayers was 6.2 million.
Subramanian said the number of tax filers by November 2017 had increased by 30%.

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